Has India Attained Digital Marketing Maturity?!
Google and Boston Consulting Group came together to undertake a study in several Asian regions across 10 industries to examine the effectiveness of their digital marketing campaigns. To accurately study the effectiveness, brands across each stage have been classified into Nascent, Emerging, Connected, Multi Moment. With the classification based on their ability to handle data and use it to draft suitable digital marketing campaigns.
-BCG spoke to 180 brands diving deep into the increasing prominence of the use of customer data by marketers.
-With the findings pointing out that only 6% of the brands were close to attaining maturity.
-On being queried upon the medium for the achievement of such success, “Combining data and digital technologies can increase the relevance of advertising, cost savings and revenue.”
-First party data is gaining importance for all brands and so getting clean first party data is difficult.
-First party data is a must to get an in-depth understanding of the entire customer journey, thus helping to better focus their engagement efforts.
– Consumers are increasingly seeking relevant personalised experiences from brands, since it’s such experiences that build a trust strong enough to generate a sale.
-However, India doesn’t have an infrastructure strong enough for it attain maturity in terms digital marketing, since more than half the brands in India that were surveyed struggled to link technologies when collecting, activating data and measuring impact.
– The challenges in delivering the full potential of digital engagement, the study also puts a spotlight on technological barrier as the top challenge.
It’s clear that India is still far from achieving maturity from a digital marketing perspective, however India is on track to eventually achieving the ultimate goal and with BCG’s advice acting as a guide, the finish line isn’t too far.